AbbVie Inc (NYSE:ABBV) was downgraded by analysts at Morgan
Stanley to a “hold” rating in a note issued to investors on Wednesday. They
presently have a $65.00 price objective on the stock. Morgan Stanley’s price
objective suggests a potential upside of 3.01% from the stock’s previous close.
Other large investors have made changes to their positions
in the company. Norges Bank acquired a new stake in shares of AbbVie during the
fourth quarter valued at $838,947,000. Orbis Allan Gray Ltd bought a new stake in
AbbVie during the first quarter valued at approximately $281,766,000.
Highfields Capital Management LP increased its stake in AbbVie by 77.7% in the
fourth quarter. Highfields Capital Management LP now owns 5,908,500 shares of
the company’s stock valued at $350,020,000 after buying an additional 2,583,500
shares in the last quarter. Woodford Investment Management LLP increased its
stake in AbbVie by 25.8% in the first quarter. Woodford Investment Management
LLP now owns 11,063,300 shares of the company’s stock valued at $631,936,000
after buying an additional 2,269,300 shares in the last quarter. Finally,
Svenska Handelsbanken AB publ bought a new stake in AbbVie during the fourth
quarter valued at approximately $89,405,000.
Source: American Banking and Market News